Jun 18, 2023
“The one real asset that no one can take from you is ingenuity and action. Think outside the box and then take action on it.” —Patrick Rood
When it comes to taxes, it's crucial to have a solid understanding of the process. But with all the tax codes, terms, and complex processes, many individuals and even entrepreneurs make crucial mistakes that cost them more than what they should be paying.
This is why, having the right knowledge can really be life-saving if we are to win this tax game. Not only can we ensure that we are getting the most out of tax season, but playing our cards right can also impact our wealth and financial stability.
In this episode, Daniel sits with Patrick Rood, the Owner of Rood Financial Services. If you’re curious about how the wealthy do their taxes, tune in as Patrick reveals the secret to reducing your taxes to zero, as well as juicy insider scoops about leveraging deductions, bonus depreciation, and intelligent purposeful purchasing. Daniel and Patrick also discuss the value of sales and casual management, the power of applied knowledge, the importance of consistent data tracking, and the 40% rule you can follow to set boost your financial health.
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Episode Highlights:
01:49 Meet Patrick
07:24 What Knowledge Can Do
11:06 How to Do Your Taxes RIGHT
16:06 Intelligent Purposeful Purchasing
20:16 A Common Tax Mistake
25:29 Applied Knowledge Power
30:32 Why The Stock Market is a Bad Game
34:19 The 40% Rule
39:06 Things to Think About
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